Board of Directors

Chief Ajibola Ogunshola, Chairman

Chief Ajibola Ogunshola holds a B.Sc. (Honours) degree in Mathematics from the University of Ibadan (1967) and became a Fellow of the Institute of Actuaries, United Kingdom in 1973, the first black African to become a Fellow of the Institute. He was Chairman and Managing Consultant of Ajibola Ogunshola & Company (Actuaries & Employee Benefit Consultants) from 1986 to 2004 and Chairman of Alexander Forbes Consulting Actuaries (Nigeria) Limited from 2005 to March 2015.

Over the years, Chief Ogunshola has contributed to the development of many organizations. Amongst others, he was Founding President of the Nigeria Actuarial Society, 1982; Chairman of the Committee of Actuaries that gave actuarial advice to the United Nations Staff Pension Fund from 1987 to 2006; and President of the Association of Pension Fund and Investment Managers (now Association of Pension Fund Managers), 2001 – 2003, where he received a lifetime achievement award.
Chief Ogunshola joined Continental Reinsurance as a non-executive director on November 8, 2016 and is currently the Chairman of the Board.

Femi Oyetunji, Group Managing Director/CEO

Dr. Femi Oyetunji holds a PhD in Statistics from the University of Manchester, Institute of Science and Technology, England (1980); a Master of Science (M.Sc.) degree in Statistics from Imperial College, London (1977) and a Bachelor of Science (B.Sc.) First Class Honours degree in Statistics and Operational Research from the University of Manchester, Institute of Science and Technology, England (1976). He is a Fellow of the Institute of Actuaries, United Kingdom and has attended several management development programmes locally and overseas. He joined Continental Reinsurance as Managing Director/CEO on January 3, 2011.

Dr. Oyetunji was the founding Managing Director/CEO of Alexander Forbes Consulting Actuaries Nigeria Limited and as the Chief Actuary, supervised many large insurance and pension schemes, a position he held before joining Continental Reinsurance. He continued to serve on the Board of the company as a non-executive director until his resignation early in the current year. He is currently a non-executive director of Crusader Sterling Pensions Ltd.

Lawrence Nazare, Executive Director

Mr. Lawrence Nazare holds a post-graduate Law degree from the University of Zimbabwe and is an admitted legal practitioner. An Associate In Reinsurance (Are) of the American Insurance Institute, he has vast experience in the insurance industry gained over a period of 24 years with roles that include Manager, Underwriting Division at ZimRe; Managing Director at Intermarket Reinsurance, a Hannover Re joint venture company; Managing Director at Tristar; and Managing Director at ZB Reinsurance all in Zimbabwe.

He is a prominent figure in the African insurance industry having held several posts including Chairman of the Organization of Eastern and Southern African Insurers, OESAI, Chairman and Director of Credit Insurance Zimbabwe Limited, Credsure, Chairman of The Insurance Council of Zimbabwe, ICZ, Chairman of the Zimbabwe Association of Reinsurance Offices, ZARO, vice-President of the Insurance Employers Association of Zimbabwe, and also first Vice President of the Insurance institute of Zimbabwe, IIZ.

He joined Continental Reinsurance on May 1, 2002.

Foluso Laguda, Non-Executive Director

Mr. Foluso Laguda holds an MBA from Imperial College, London, UK with specialisation in Entrepreneurship and Corporate Finance, and a Bachelor of Engineering Honours Degree in Mechanical Engineering from UMIST, Manchester, UK. He is an experienced Strategy Consultant with over 15 years of leadership experience in advisory, information and research businesses. He has worked with several global corporations (consumer packaged goods, technology media and telecoms, and financial services sectors) on the development and implementation of business growth and innovation programmes. He serves on the board of several companies including SALAG Limited.

He is a member of the Institute of Directors (MIoD) in both Nigeria and the UK. He joined the Board of Continental Reinsurance in September 2013.

Raymond Farhat, Non-Executive Director

Mr. Raymond Farhat is a Chartered Accountant and holds a degree in Economics from the University of Social Sciences – Toulouse 1 (1979). Currently the Managing Director of Saham Finances, his experience in finance spans over 30 years. He started his professional career in 1979 with Ernst & Young as a chartered accountant after which he joined Group Libano-Suisse d’Assurances, Côte d’Ivoire, a Lebanese-Swiss Insurance Company, as Internal Auditor in 1981. He rose to become a Director in 1986.

He joined the COLINA Group in 1989 and became General Manager of COLINA SA, Côte d’Ivoire. He re-structured the company in 2005 by creating COLINA Participations SA, Côte d’Ivoire and continued as its Managing Director. He was also a Director of COLINA Corporate SAS – Morocco.

He was appointed non-executive director of Continental Reinsurance on September 11, 2015.

Ahlam Bennani, Non-Executive Director

Mrs. Ahlam Bennani graduated from the Graduate School of Management of Rouen, France. She began her career in 2000 with Arthur Andersen/Ernst & Young Casablanca where she rose to senior Manager Transaction Advisory and Business Advisory. She joined Saham Finances (Insurance Division) in 2011 and is currently Director, Mergers and Acquisitions. Her technical competencies include advisory on mergers and acquisitions for local, international firms and equity funds; advisory for major operators in risk management and performance improvement; project management and change management.

She became a non-executive director of Continental Reinsurance representing C-Re Holding on September 11, 2015.

Emmanuel Brule

Mr. Emmanuel Brule is a graduate of Ecole Centrale de Paris. He has always operated in an international environment and held a number of senior executives’ roles with SCOR, a global Tier 1 reinsurance company (1997 – 2001) and American International Group (AIG) (2002 – 2015) in diverse functions and in various territories. He is currently Deputy Chief Executive Officer of Saham Finances and a member of Saham Group Executive Committee. He joined Continental Re as a non-executive director on November 8, 2016.

Mr. Brule is an impactful C-Level Insurance Executive with significant and successful experience in growing profitable business and leading transformation of insurance operations across EMEA. He is recognized as a strategic leader and critical thinker, with a strong record of execution in multiple environments and cultures.

Paul Kokoricha, Non-Executive Director

Mr Paul Kokoricha is a Partner at African Capital Alliance. He holds a degree in Economics in 1982 from the University of Nigeria, Nsukka and is a fellow of the Institute of Chartered Accountants of Nigeria. He worked for ten years at Arthur Andersen & Co and later spent eight years at Liberty Bank plc as Group Head of Operations with responsibility for trade finance products and customer service.

He joined African Capital Alliance in 2002 as the Chief Financial Officer before making a transition to Fund Manager role in 2004. He is currently the Managing Principal of Capital Alliance Private Equity I [CAPE I], a USD 35 million fund, and Capital Alliance Private Equity II [CAPE II], USD 100 million fund. CAPE I and CAPE II have a number of international and Nigeria based investors, including leading international development finance institutions. In his role, he champions all aspects of private equity investment management, including fundraising, deal origination, due diligence, deal structuring, investment and management of exits.

He is a Director of a number of companies, including Johnnic Communications West Africa Limited, Compact Disc Technologies Nigeria Limited, Swift Networks Limited, Cornerstone Insurance Plc, Resourcery Limited, Accat, and Nu Metro Retail Nigeria Limited.

He was appointed to the Board as a non-executive director on March 1, 2016.

Steve O. Iwenjora, Non-Executive Director

Mr. Steve Iwenjora has over 18 years’ cognate experience in the financial services sector, spanning banking, private equity and investment management with local and international organizations. He is a fellow of the Institute of Chartered Accountants of Nigeria and holds a Bachelor’s Degree in Accounting (2nd Class Upper Division) from the University of Lagos.

He is currently Vice President in African Capital Alliance focusing on the financial services sector including banking, insurance and pensions. He was Fund Manager for SIM Capital Limited; management staff in the private equity team in Renaissance Capital overseeing investment opportunities across West Africa.

Mr. Iwenjora was appointed as a Non-Executive Director representing C-Re Holding Ltd after the year end on March 1, 2016 and also serves on the Boards of Cornerstone Insurance Plc, UBN Insurance Brokers Limited and CAN Fund Manager Limited.

Ian Alvan Tofield, Independent Director

Mr. Ian Alvan Tofield is an Associate of the Chartered Insurance Institute and has over 60 years’ practical experience in all aspects of insurance and reinsurance business, administrative, technical, and marketing predominantly in and for the African continent. He began his insurance career in 1955 with Legal & General Assurance Society. In 1961, he was seconded to the Gresham Life and Gresham Fire & Accident Assurance Societies in Accra, Ghana and in 1970 to Guinea Insurance Company, Nigeria serving first in Kaduna as Northern Area Manager and then as deputy CEO in Lagos. He joined Munich Reinsurance Company (Munich Re) in 1977 and had the initial task of creating the West African bureau in Abidjan, Cote D’ivoire which he managed for six years developing and managing accounts in 24 Countries in the region. He was recalled to the head office in Munich in 1983 and continued to administer the West African region and progressively widened his field of responsibility to include the Maghreb, East, Central and Southern Africa. In 1995, he transferred the entire management of sub-Saharan African portfolio to Munich Re’s office in Johannesburg from where he retired in 2002.

Mr. Tofield has served on the Boards of several insurance companies including the Global Alliance Group (Mozambique, Angola and Sao Tome), Activa Group (Ghana, Liberia, Sierra Leone with connections in Cameroon and Guinea) and La Loyale in Ivory Coast. He was an associate of CK Reinsurance Brokers, London, from 2002 – 2010. He consults for various large multinational insurance companies and has been Africa Consultant for the Zurich Insurance Company from 2010 to date.

Management

Femi Oyetunji, GMD / CEO

Dr. Femi Oyetunji holds a PhD in Statistics from the University of Manchester, Institute of Science and Technology, England (1980); a Master of Science (M.Sc.) degree in Statistics from Imperial College, London (1977) and a Bachelor of Science (B.Sc.) First Class Honours degree in Statistics and Operational Research from the University of Manchester, Institute of Science and Technology, England (1976). He is a Fellow of the Institute of Actuaries, United Kingdom and has attended several management development programmes locally and overseas. He joined Continental Reinsurance as Managing Director/CEO on January 3, 2011.

Dr. Oyetunji was the founding Managing Director/CEO of Alexander Forbes Consulting Actuaries Nigeria Limited and as the Chief Actuary, supervised many large insurance and pension schemes, a position he held before joining Continental Reinsurance. He continued to serve on the Board of the company as a non-executive director until his resignation early in the current year. He is currently a non-executive director of Crusader Sterling Pensions Ltd.

Lawrence Nazare, Executive Director (Operations)

Mr. Lawrence Nazare holds a post-graduate Law degree from the University of Zimbabwe and is an admitted legal practitioner. An Associate In Reinsurance (Are) of the American Insurance Institute, he has vast experience in the insurance industry gained over a period of 24 years with roles that include Manager, Underwriting Division at ZimRe; Managing Director at Intermarket Reinsurance, a Hannover Re joint venture company; Managing Director at Tristar; and Managing Director at ZB Reinsurance all in Zimbabwe.

He is a prominent figure in the African insurance industry having held several posts including Chairman of the Organization of Eastern and Southern African Insurers, OESAI, Chairman and Director of Credit Insurance Zimbabwe Limited, Credsure, Chairman of The Insurance Council of Zimbabwe, ICZ, Chairman of the Zimbabwe Association of Reinsurance Offices, ZARO, vice-President of the Insurance Employers Association of Zimbabwe, and also first Vice President of the Insurance institute of Zimbabwe, IIZ.

He joined Continental Reinsurance on May 1, 2002.

Nkem Odibeli, Chief Finance Officer

Mr. Odibeli is an accomplished accountant and finance professional with over 25 years’ post qualification experience across the financial services industry, covering Banking, Insurance, Pension Fund Administration, Real Estate and Private Finance sectors. He has a proven record of success in start-ups, turnarounds, growth management and investing. He has led and contributed to enhancing corporate profitability; building quality risk asset portfolios and clients base through the development and deployment of innovative strategic lending initiatives, products and delivery through alternative distribution channels in various capacities and organisations.

Prior to joining Continental Reinsurance on June 1, 2016, he was Vice President and Investment Officer at African Capital Alliance (ACA) Nigeria where he managed over $300 million portfolio of companies across telecommunications, information technology, electronic payments and insurance industries. Prior to joining ACA he worked as the Group CFO at Cornerstone Insurance Plc. He set up and was pioneer Managing Director/CEO of three companies: First Guarantee Pension (Pension Fund Administrators), Structured Capital Company Limited and Royal Prudential Life Assurance Ltd. He later became the Group Executive Director (Finance & Investments) in Royal Exchange Group with responsibility for all subsidiaries.

Mr. Odibeli has extensive foreign and local training backed by relevant local and international qualifications in Banking, Finance, Accounting and Investment Management. He holds B.Sc. (Finance) and M.Se. (Marketing) degrees both from the University of Lagos. He is a Fellow of the Chartered Institute of Bankers (FClB), Fellow of the Association of Chartered Certified Accountants (FCCA), U.K. and is also a Certified Project Finance Specialist of the American Association of Financial Management (AAFM).

Abimbola Falana, Company Secretary / Legal Adviser

Mrs. Abimbola Falana holds a BEC Higher National Diploma with Distinction in Business Studies, England and a Bachelor of Law Degree from the University of Lagos. Prior to joining Continental Reinsurance, she was a Director in charge of the Corporate Services/Legal department of Akintola Williams Deloitte.

She is an associate member of the Institute of Chartered Secretaries and Administrators, England and a member of the Nigerian Bar Association.

Segun Ajibewa, DGM HR & Admin

Dr. Segun Ajibewa holds a PhD in Psychology (Industrial & Organisational), an M.Sc. in Industrial & Organisational Psychology and a B.Sc. in Psychology, all from the University of Ibadan; and an MBA from Obafemi Awolowo University, Ile-Ife. He also holds Balanced Scorecard Professional Certification of the Institute of Balanced Scorecard, U.S.A., and is an alumnus of the Lagos Business School (SMP 25).

He previously worked with Nigerian Breweries Plc., Industrial Projects International Limited and Mutual Benefits Assurance Plc as the Head of Human Resources and Administration.

He is a professional member of the Chartered Institute of Personnel Management of Nigeria, Nigerian Institute of Management, Nigerian Institute for Training and Development, and Advertising Practitioner Council of Nigeria and has attended several management development programmes locally and internationally.

Abayomi Oluremi-Judah, Chief Risk Officer

Mr. Abayomi Oluremi-Judah holds a B.Sc. in Mathematics and Economics from the University of Warwick, United Kingdom and is an Associate of the Institute of Actuaries.

He trained and worked as an actuary in the United Kingdom and Europe for more than 13 years, and brings his extensive insurance and reinsurance experience to Africa and the organisation.

Shola Ajibade, General Manager (Operations) Nigeria

Mr. Shola Ajibade holds a Higher National Diploma in Insurance from the Lagos State College of Science and Technology and is a Fellow Chartered Insurance Institute, London, Fellow Insurance Institute of South Africa and holds an MBA from the University of South Africa.

He is an accomplished reinsurance underwriter with more than 25 years’ experience in insurance and reinsurance. He gained his experience serving leading institutions in different capacities.

His last role was with Aon Benfield South Africa where he held the position of Executive (Treaty) for Sub-Saharan Africa and was previously the Senior Broker for West Africa and Portuguese markets.

Prior to joining Aon Benfield he worked at Swiss Re South Africa and Swiss Re Ivory Coast. He also worked in senior executive positions at United African Insurance Brokers (UAIB) Nigeria, The Lion of Africa Insurance Company, Nigeria and Africa Re, Nigeria from where he started his career as an Underwriting Assistant.

Lety Endeley, Regional Director Cameroon

Mrs. Lety Endeley holds a Bachelor of Law and Economic Sciences from the University of Yaoundé in Cameroon. She has more than 20 years’ experience in the industry, 10 of which she gained at the Satellite Insurance Company in Cameroon where she served in various managerial capacities and rose to head one of its branches.

Prior to joining Continental Reinsurance in 2012 as Regional Director for the Central African market, she worked for CICA Re Togo (Regional Reinsurance French Company) where she served as Chief Underwriter and Manager for English speaking countries in Africa. She has far-reaching exposure in the English and French speaking markets in Africa.

Dorsaf Sassi, Regional Director Tunisia

Mrs. Dorsaf Sassi holds a Bachelor’s degree in Finance and a Master’s degree in Total Quality Management (TQM), both from the Institut Supérieur de Gestion, Tunis. She completed her thesis on the Tunisian Insurance Market with first-class honours.

She has over 20 years’ senior level experience in the insurance and reinsurance industry in Tunisia.

Ibrahima Ndoye, Regional Director Cote d'Ivoire

Mr. Ibrahima Ndoye holds a Master’s degree in professional audit and management control, a European technical diploma in fire safety (INSSI), and a degree in Electrical Engineering (Ecole Supérieure Polytechnique). He has also acquired vast knowledge via professional training in engineering, insurance, reinsurance and management.

He is a seasoned senior reinsurance underwriter and has worked in the industry in Sénégal, Côte d’Ivoire and the surrounding region for more than 16 years.

Cassim Hansa, Managing Director, Continental Reinsurance (Botswana) Ltd

Mr. Cassim Hansa is a professional civil engineer and MBA graduate (University of Witwatersrand, Jhb.) with experience in both the Engineering and Insurance Industries; in both the USA and SA. He joined Continental Reinsurance in 2014.

He has been in the insurance industry since 1989 and now has twenty seven years [two years of which were spent in the USA] of reinsurance/insurance underwriting and claims handling experience.

Prior to his intra-company transfer from Munich Re to the USA, he held the position of Chief Engineer carrying responsibility for all the Engineering Insurance business south of the Sahara. In the USA (2001 to 2003), he led Munich-American Risk Partner’s Property-Engineering Insurance unit in Princeton, New Jersey.

Souvik Banerjea, Managing Director, Continental Reinsurance (Kenya) Ltd

Souvik’s career in insurance has spanned more than 30 years. He has gained his experience in the insurance industry in various organizations namely: The New India Assurance in both India and Japan, African Reinsurance Corporation and African Trade Insurance Agency where he worked since September 2011 up to the time of joining Continental Reinsurance.

He holds a Master of Business Administration (M.B.A.) from R.A. Podar Institute of Management, University of Rajasthan, India. He majored in Marketing Management and minor electives were in Personnel Management. As a first degree, he undertook a Bachelor of Commerce (B.Com) at the University of Rajasthan, India. He is a Fellow of the Insurance Institute of India and has undertaken various professional programmes with premier institutions like C.I.I., London, and National Insurance Academy, Pune.